Summary

• During the first quarter of 2026, the Harbor Dividend Growth Leaders ETF returned 0.66%, outperforming the style benchmark, the NASDAQ US Dividend Achievers Select Total Return Index and its primary benchmark, the S&P 500 Index.
• The ETF posted a positive return in a quarter when both benchmarks were negative, reflecting the defensive characteristics inherent in dividend growth investing.
• The top five contributors to relative performance during the quarter were Williams Companies, Regal Rexnord, Southern Copper, Tapestry, and Johnson & Johnson.

“The Iran conflict at the end of February transformed the market into a one-variable trade driven by oil, triggering a sharp sell-off across risk assets.” - Westfield Capital Management Company, L.P.

Market in Review